Connected Home Devices Market Endow Home Owners Personalized Automation Experiences, Integration with IoT and AI Key Pivots: TMR

- Demand for smart entertainment devices to spur sales connected home devices market and overall valuation to clock a CAGR of ~ 12% from 2019 to 2027; new players mull investments in hybrid technologies

- Stakeholders leverage the potential of cloud technology to develop next-gen products; however, security vulnerabilities concern connected home device manufacturers

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Transparency Market Research

Sep 10, 2020, 11:30 ET

ALBANY, N.Y., Sept. 10, 2020 /PRNewswire/ --: Connected home devices emerge as key enabler for home automation for smart living. Advances in IoT connectivity and cloud computing platforms boost the utility and performances of new technologies in connected home devices market.

A case in point is voice control technology integration. Hybrid technologies will in general spur new avenues for incumbents and new entrants alike.

TMR analysts contend that established players in the connected home devices market focus connected home devices for lighting control on driving sales. They further concur that emerging players can also leverage the potential of the aforementioned segment to consolidate their position in local markets.

The global valuation in connected home devices market is anticipated to clock CAGR of ~ 12.0% between 2019 and 2027, and reach worth of ~ US$ 157 Bn by 2027.

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Key Findings of Connected Home Devices Market Report

Expected sales in the connected home devices market in 2019 was ~ 240 million units
Smart television-enabled home control devices to gain popularity
Based on technology, the hybrid segment is expected to gain popularity during the assessment period
Globally, North America held the dominant share in the smart home devices market
Asia Pacific expected to offer promising share
The Asia Pacific market to witness intense competition throughout
Voice assistant-enabled televisions are expected to witness stead adoption

Explore 172 pages of top-notch research, incisive insights, and detailed country-level projections on Connected Home Devices Market (Product: Lighting (Bulbs, Fixtures), Entertainment (Speakers, Television, Others), Security Systems (Security Cameras, Locks, Alarm Systems), Smart Thermostats, and Others; and Technology: Device-based, Mobile-based, and Hybrid) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027 at https://www.transparencymarketresearch.com/connected-home-devices-market.html

Connected Home Devices Market: Key Driving Factors and Promising Avenues

Growing role of automation in home devices for a smart living is a key pivot on which the connected home devices market is expected to evolve.
Integration of IoT and AI are charting new growth avenues for connected home devices manufacturers.
Better connectivity with entertainment and lighting devices impart new level of convenience to end users. Case in point is technology-enabled smart television sets.
Attractive technological strides in the market pertain to hybrid devices in recent years, opening new revenue streams.
Increasing preference toward automation through cloud computing is boosting the prospects. This gives access to real-time information, facilitating better integration possibilities in the connected home devices market.
Growing popularity of mobile-based applications is attractive prospective consumers to demand new devices.
Focus on improving energy security has accelerated the pace of new technology developments in the connected home devices market.

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Connected Home Devices Market: Regional Landscape

Regionally, Asia Pacific is estimated to offer sizable revenue share to connected home devices market. The regional market is characterized by high intensity of competition, driven in large extent by the vast uptake of smart technology-enabled devices among residential users. Growing popularity of smart hub devices is attracting new entrants in the regional market.

North America is also a prominent market. Its revenue potential has been fuelled by growing investments in the region by some of the top players. A vast appetite is also driving adoption of new technologies in the regional population.

Analyze global connected home devices market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study

Connected Home Devices Market: Competitive Landscape

Security vulnerabilities dampen the adoption rate of connected home devices. Hence, it is imperative that manufacturers focus on reducing the possibilities of security breaches, mainly through integrating their offering with better cybersecurity protocols.

Some of the top players in the connected home devices market are focusing on strategic expansion to tap into revenue streams in untapped regional markets. Most players consider focusing on hybrid devices in Asia Pacific. Several players are mulling leveraging the potential of partnerships to offer innovative devices.

Some of the top players in the connected home devices market are leaning on ensuring a personalized experience to spur higher uptake of connected home devices in smart cities.

Press Release Source: https://www.transparencymarketresearch.com/pressrelease/connected-home-devices-market.htm

The Connected Home Devices market is segmented based on:

Product

Lighting
Entertainment
Security Systems
Smart Thermostats

Technology

Device-based
Mobile-based
Hybrid

Region

North America

US
Canada

Europe

Germany
France
Italy
Spain
U.K.
Rest of Europe
Middle East and Africa

GCC Countries
South Africa
Rest of Middle East & Africa
Asia Pacific

China
Japan
India
Australia & New Zealand
Rest of Asia Pacific

Latin America

Brazil
Mexico
Rest of Latin America

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